This is nonsense. I have a substantial portion of my retirement in an S&P index fund. I also have been rotating funds through a number of short-term CDs. I did better in 3-month CDs this month than I did in a year in SPY. At the start of October, the S&P was at the same level it was at in January 2018. Contrary to popular opinion, "stocks" aren't up. Select stocks are up: FAANG is mostly propping up the S&P. The Russell 2000 is still 9% under its all-time high. it's easy to look at the constant cheerleading of every.single.tweet and presume that "stocks are up" but anyone attempting real-world investing - IE, anything other than buying SPY - is not seeing a constant stream of good news.and just about any stock would have performed better than a CD.